As the festive season in Goa kicked off with Dhanteras, gold prices have seen a notable surge. The price of 24k gold futures has increased by 0.3%, or Rs 238, reaching Rs 78,804 per 10 grams.
This rise is part of a broader trend, with prices nearly 30% higher compared to last year’s Dhanteras, highlighting the growing significance of gold that Goans buy during the festive season.
PANAJI
As the festive season in Goa kicked off with Dhanteras, gold prices have seen a notable surge. The price of 24k gold futures has increased by 0.3%, or Rs 238, reaching Rs 78,804 per 10 grams.
This rise is part of a broader trend, with prices nearly 30% higher compared to last year’s Dhanteras, highlighting the growing significance of gold that Goans buy during the festive season.
Dhanteras, which marks the start of Diwali, is traditionally viewed as an auspicious day for purchasing gold and silver. Devotees honour Dhanvantari, the divine healer, who emerged from the ocean bearing the nectar of immortality and an Ayurvedic text, symbolizing health and well-being.
Gold has historically been a strong investment, and the current prices show significant gains, despite a slight 0.04% dip yesterday that brought rates to Rs 78,536. This annual tradition of buying gold runs deep in Indian culture, with households viewing it as a secure investment. For instance, anyone who invested in gold on Dhanteras two years ago would see returns of approximately 56.8%.
This festive season, jewelry stores are bustling, and retailers are offering special deals. A representative from PN Gadgil store in Panaji shared, “for Dhanteras, we are checking the purity of customers' old gold without any deduction in weight or rate; the purity is simply multiplied by today’s 24-carat rate, allowing customers to maximize their gold’s value.” The store is also offering a 15% discount on making charges for new purchases.
Another jeweler in Panaji described the vibrant atmosphere, saying, “These past three days have been incredibly busy, with over 2,000 customers so far, and on Dhanteras alone, we saw around 3,000 visitors. Remarkably, nearly 90% of them made a purchase.”
With festive excitement in full swing, many stores were open until midnight to welcome shoppers. As one store employee noted, “It’s inspiring to see people so enthusiastic about buying gold on this special day, and we’re thrilled to serve them.”
Despite the rise in gold prices, the festive spirit is undeterred, as Dhanteras once again brings people together to celebrate prosperity and tradition.
